With so many women working a 9-to-5 and building a brand on the side it is wise to have a strategy to negotiate for the best deals while you’re building your side hustle into an empire.
In order to negotiate for the best deal have a clear business plan that includes a standard price for your product or services. Use a business planning guide and do research to understand the importance of competitive data as well as gain insight into what rates/prices you should charge.
You’ll have to stick to your prices in order to reach a profit. When you’re just starting out you may have to give some free products or a discount on services to get your name out. However, you must think strategically so that you do not devalue what you’re offering. Once a client get used to getting something at a certain price it is hard to raise the price later. Be sure to communicate up front with the client if they are receiving a discount and let them know that the discount is because they’re taking a chance on you as you launch the business.
Practice what you're going to say, before you say it so that you sound confident. There's nothing like hearing someone quote a price and they do not sound sure about the price.
SINCE YOUR 'JUST' STARTING OUT CAN YOU DO THIS FOR FREE?
“I am starting this endeavor but, I have 2.5 years experience working for well-respected clients in the city of Atlanta. I've been able to reach objectives for my clients at or ahead of schedule and I will do the same for you. This is the rate for the service(s) you are requesting.
Download this negotiation guide to help you maximize your side-hustle negotiations.